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Record the following transactions for sandwich corporation

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Record the following transactions for Sandwich Co. in the general journal. 

2010

May 1 Received a $7,500, 1-year, 10% note in exchange for Julia Gonzalez's outstanding accounts receivable.

Dec. 31 Accrued interest on the Gonzalez note.

Dec. 31 Closed the interest revenue account.

2011

May 1 Received principal plus interest on the Gonzalez note.(No interest has been accrued in 2011.) 

Reference no: EM131144306

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